BoI, NCWS Empower 1000 Women with N50m Soft Loan

July 22, 2017

By Modupe Gbadeyanka

Not less than N50 million was disbursed on Monday to 1000 women in Abuja by the Bank of Industry (BoI) in collaboration with the National Council of Women Societies (NCWS).

The beneficiaries were members drawn from different women societies in the city and they got N50,000 each.

It was part of efforts by the government to empower women in the society and boost their businesses.

The loan, which is to be repaid within six months and tagged ‘market money’, comes with an administrative fee of 5 percent.

Speaking at the ceremony, Executive Director of Micro Enterprises at BoI, Toyin Adeniji, urged the beneficiaries to ensure prompt repayment so as to allow other enjoy it.

She also urged women to embrace NCWS in order to further enjoy other benefits.

In her remarks, President of NCWS, Gloria Shoda, thanked the BoI for supporting empowerment of women in Nigeria.

According the President, NCWS will continue to ensure women are economically empowered.

She described the role of women in a nation’s economy as very vital, urging the women to endeavour to repay the loan as agreed.

Shoda assured women from other parts of the country that the loan scheme would get to them.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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